Question # 1

An increase in aggregate demand will have most effect on prices if:

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Aggregate supply is price inelastic

Aggregate supply is price elastic

Aggregate supply has unitary price elasticity

Aggregate demand is price inelastic

Irony is a contrast between expectation and reality, which of the following is not a common type of irony?

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verbal

dramatic

situational

Flashback

Which of the following would decrease aggregate demand?

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Increased consumption

Increasing export revenue

Increasing taxation revenue

Increased investment

If you were being treated extremely well by someone and they made you fell really special, It is said that you are getting the _____ treatment?

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PIP

^VIP

PPI

XSP

Economic growth can be measured by:

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The CPI

The CBI

GDP

MPC

Which one of the following is not an element of Democratic Socialism?

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Welfare state

Mixed economy

Social justice

Revolutionary change

Less Developed Countries tend to have:

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A high average age

A slow population growth rate

High life expectancy

A low literacy rate

The liquidity trap occurs when the demand for money:

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Is perfectly interest elastic

Is perfectly interest inelastic

Means that an increase in money supply leads to a fall in the interest rate

Which of the following is not a supply side measure?

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increased training

Providing more information

Helping individuals to move location to find work

Increasing spending on existing industries

In times if slowdown of the economy, the fiscal policy influences aggregate demand through:

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Discretionary element

Non-discretionary element

Lowering of tax rates

All of the above

What does SOP stand for:

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Special Operating Procedure

Special Operation Procedure

Standard Operating plan

simple operating Plan

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